Chicago – August 05, 2025
Former President Donald Trump claimed that major banks, including JPMorgan and Bank of America, have discriminated against him and his supporters. He said that these banks rejected his deposits for political reasons, which he believes is unfair.
Trump made these statements during an interview with CNBC. He mentioned that after his first term in office, JPMorgan told him he had 20 days to remove hundreds of millions of dollars from his accounts. He also said that Bank of America did the same when he tried to deposit funds with them.
Trump’s comments follow a report by the Wall Street Journal, which said that he plans to take action against banks that discriminate against conservatives. He hinted at an executive order that would require regulators to review banks for any “politicized or unlawful debanking” practices. This order is expected to be announced soon.
JPMorgan responded by saying they do not close accounts for political reasons, and they support regulatory changes. Bank of America did not comment on Trump’s specific claims. Trump also suggested that former President Joe Biden’s administration may have pressured regulators to harm him politically.
